Who needs Master Insurance?

Condominium Associations

Condominium associations need a master policy to cover their common risks. An individual unit owner needs a homeowner's policy to cover their personal property, but the condo association needs this master policy to cover building liability, common areas and much more.

Apartment Building Owners

Owners of apartment buildings also need a master policy to cover the common areas of the property, liability, loss of rents, etc. Renters may purchase their own renter's policy to protect their personal property, but the building owner is in need of a master policy for the general coverage of the building.

Residents in a Multi-Family Home

Duplexes, triplexes and row-houses are examples of multi-family homes that would be in need of a master policy. A common type of property in the Boston area is a split-entry duplex. Again, each unit owner would have a homeowner's policy for their personal property, but the building as a whole would need master policy coverage.

Property Managers

Property managers regularly work directly with Brownstone to insure the properties they manage, including condos, apartments and townhouses.

Any property with 2 or more owners needs a Master Policy

In general, any property with 2 or more units/owners needs a master policy. In other words, any property other than a single family home needs a habitational master insurance policy.